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Zinc One Resources announces amendment of Esquilache purchase terms with Nubian Resources

Under revised terms, the four annual advance net smelter return (NSR) payments of $162,500 have been amended, the firm said
Zinc on the periodic table
Today's news concerned the Esquilache silver-lead-zinc project

Zinc One Resources Inc (CVE:Z) said it had amended its agreement with Nubian Resources Ltd over the latter's purchase of its Esquilache silver-lead-zinc project.

Under revised terms, the four annual advance net smelter return (NSR) payments of $162,500 have been amended to provide for payments of $22,500 paid on December 27 last year - the anniversary of the registration of the acquisition agreement in Peru.

WATCH: Zinc One Resources to release resource estimate for its Bongara zinc project in Peru

There is also $78,613 on July 5, 2019, $37,121 on October 5, 2019, $56,373 on January 5, 2020, and 23 payments of $20,313 commencing April 5, 2020, and ending October 5, 2025, on April 5, July 5, October 5 and January 5.

Zinc One has outlined a path towards a first mineral resource for its Bongara zinc project in Peru, where all the data from its 2018 drilling has now been compiled.

The new report, to include the near-surface, high-grade, zinc-oxide mineralization encountered at the Mina Grande, Mina Chica, and Bongarita deposits, is expected to be released in early 2019.

Contact Giles at [email protected]

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